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dc.contributor.authorNefedova, Tamara
dc.date.accessioned2019-04-24T12:20:55Z
dc.date.available2019-04-24T12:20:55Z
dc.date.issued2017
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/18744
dc.language.isoenen
dc.subjectbroker-client relationship
dc.subjectanalyst recommendations
dc.subjectinstitutional trading
dc.subjectprivate information
dc.subject.ddc658.8en
dc.subject.classificationjelH.H3.H32en
dc.subject.classificationjelG.G1.G14en
dc.subject.classificationjelG.G2.G24en
dc.titleTippers and Tippees: Brokers’ Pre-Release of Price-Sensitive Information to Their VIP Clients
dc.typeDocument de travail / Working paper
dc.description.abstractenUsing transaction-level data, I analyze information leakage of financial analyst recommendations to their elite clients, as well as characteristics of the institutional investors receiving such advance knowledge. I find that investment managers who have an established relationship with their brokers trade in the direction of the research in the 5-day period before the analyst coverage initiations. My results suggest that clients enjoying a privileged relationship with their broker receive and use the pre-released information in their trades.
dc.identifier.citationpages47
dc.relation.ispartofseriestitleSSRN Working Paper Series
dc.identifier.urlsitehttps://ssrn.com/abstract=2188938
dc.subject.ddclabelGestion des ventes, SAV, vendeurs, clients, négociationsen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenon
dc.description.halcandidateoui
dc.description.readershiprecherche
dc.description.audienceInternational
dc.date.updated2021-01-12T13:48:01Z
hal.person.labIds1032*
hal.identifierhal-02108869*


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